A proactive approach to risk management will fortify your response when things go wrong.
Academy Core Session: Basics of Risk Management stands out as a cornerstone of The Academy for Excellence in Local Governance curriculum at the 2022 MACo Summer Conference. Attendees learned tools for identifying and evaluating risk, outlining a strategy for risk control and putting the instruments in place to minimize exposure and loss.
The major sentiment of this session recalls the old adage that if you fail to plan then you plan to fail. Larry Bohlen, Director of Field Services at the Local Government Insurance Trust, took it one step further and started the course off with an eminently approachable concept stating, “Risk management is basically structured common sense.”
Reducing and controlling loss exposure not only protects a county but also it’s taxpayers from unnecessary risk. Bohlen explained, “Every dollar spent on property damage, work related injuries, liability claims, automobile claims, accidents, and insurance premiums is a dollar not spent on services.” Additionally, Bohlen called attention to the importance of not just putting the tools in place, but making sure to effectively organizing your human capital around the efforts. This includes elements like creating a Risk Management Committee, appointing coordinators, and assigning duties.
Extensive examples provided attendees a chance to refocus their risk assessment lens. Case studies ranged from low-hanging fruit like, simply ensuring the certificate of insurance covers the scope of the potential problem, to developing a framework for assessing the evolution and emergence of entirely new risks.
The Academy for Excellence in Local Governance is a volunteer certificate program for elected and appointed county and municipal officials. The program provides a strong background of necessary skills and knowledge for local government leaders. While the session was open to all MACoCon attendees, fellows in the Academy for Excellence in Local Governance earned Core credit for their participation.
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Speaker: Larry Bohlen, Director of Field Services, Local Government Insurance Trust (LGIT)
- Moderator: The Honorable Josh Hastings, Council Member, Wicomico County
The session was held on August 17, 2022, at the Roland Powell Convention Center in Ocean City, MD.
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